PetroChina settles July Daqing, Jidong crude at 18-month low

29 June 2012 07:51[Source: ICIS news]

SINGAPORE (ICIS)--PetroChina has cut its July settlement prices of Daqing and Jidong crude by yuan (CNY) 661/tonne ($104/tonne) from June levels to CNY5,197/tonne, or $112/bbl, the lowest since February 2011, a source from the Chinese company said on Friday.

PetroChina’s July settlement prices for other types of crude were largely down by CNY600-700/tonne from June, the source said.

The cuts were in line with weakening crude values in the international markets.

Daqing and Jidong are the main kinds of crude produced by PetroChina.

The prices listed are tax inclusive and on a free on board (FOB) basis.